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Are companies that have strong mission statements more likely to be successful? Explain your answer using one external reference to support your opinion.

Would more of the dot.com's have succeeded with better strategic planning? Discuss what do you think was missing using one external reference to support your argument?

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Strong mission statements are analyzed.

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Are companies that have strong mission statements more likely to be successful? Explain your answer using one external reference to support your opinion?

A powerful and strong mission statement does have a positive impact on any organization. Although it will be wrong to assume that a company with a strong mission statement will always be more successful than one that does not have a strong mission statement as success depends on host of other factors as well, it is indeed true that most of the successful global companies carry a very strong and effective mission statement that inspires and motivates their employees to perform well. A strong mission statement provides a sense of direction, framework and motivation to the organizational employees to perform at their best levels.

A good mission statement inspires employees and provides a focus and direction for setting lower level objectives. It guides employees in making decisions and establish what the organization does. Mission statements are crucial for organizations to prosper and grow. Studies suggest that they have a positive impact on profitability and can increase shareholder equity.

Not only large corporations benefit from ...

Solution provided by:
Sheetal Jain, PGDM
Education
  • BComm, University of Delhi
  • Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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